Tool holders intended for cutting toward the right or left in engine lathes or the like are commonly provided with bit sockets inclined both upwardly and toward the left or right as the case may be, separate tools being required for right hand and left hand cutting or facing operations. Separate holders are also normally required for straight cuts, cutoff blades and boring bars. The overall objective of the present invention is to provide an improved holder which is adapted not only for both right hand and left hand cutting and facing, but also for straight cuts, cutoff work and boring, eliminating the need for separate holders for these several operations.
Other objects and advantages of this invention will become apparent to those skilled in the art upon consideration of the present disclosure in its entirety.